Banks In Switzerland according to the New annual report Titled “Banks In Switzerland 2019” It was Published by Switzerland’s Central Bank Also Known As the Swiss National Bank.
It has said that the Money of Pakistani Nationals kept in the Country’s Banks Has Decreased By 50% to $377 the Lowest Amount Ever. Pakistanis Have Quietly Withdrawn 50% of It Until Now.
In 2015 Contract Was Signed Between Pakistan And Switzerland
Since 2015, Pakistanis Have Consistently Been Taking Money Outer Withdrawing the wealth Stored in Swiss Banks.
It is Due to the Reason of the revised taxation treaty was signed between Pakistan And Switzerland.
The Report of 2018 About Money
In 2018 the Money which was kept by Pakistan was around $754 Million. but the Reports shows that the money of Pakistani national crossed 1.5 Billion in 2015.
Furthermore, the direct assets of Pakistani Nationals Kept in Swiss Banks Through Some trustees or wealth Managers have Increased to $527 Millin in 2019 From 316 Million of 2018.
The Tax Amnesty Schemes & Economic Cooperation & Development (OECD)
The report notes that tax amnesty schemes were accorded by former PM Shahid Khaqan Abbasi and incumbent PM Imran Khan and poor administrative structure of the Federal Board of Revenue (FBR) have impeded Pakistan’s ability to benefit from the exchange of information by the Organisation for Economic Cooperation and Development (OECD).
Organization for Economic Cooperation and Development Reports of 2019 & 2018
In 2018 and 2019, OECD shared the details of $7.5 billion kept in 154,000 OECD bank accounts owned by 57,450 Pakistani nationals with Pakistan.
At The End Of Pakistanis Have Quietly Withdrawn 50%?
just $6 million have been recovered so far, as revealed by the FBR’s Directorate General of International Taxes in a meeting of a parliamentary committee.
If You Have Any Question Regarding This Post you can comment on us below the session Thanks.